Corn, Wheat Inspections Bearish
29 Feb 2016
By Darin Newsom
DTN Senior Analyst
OMAHA (DTN) -- Corn and wheat inspections were bearish and soybean inspections were neutral in this week's export inspections report, according to DTN Senior Analyst Darin Newsom.
Corn weekly export inspections were 29 mb (week ending Thursday, February 25) putting the marketing year total at 581.1 mb. The weekly number was behind last year's (for the same week) of 50.5 mb while the marketing year total continues to run 21% behind last year's pace. Overall, corn export inspections could be viewed as bearish, Newsom said.
Soybean weekly export inspections were 38.5 mb (week ending Thursday, February 25) putting the marketing year total at 1.414 bb. The weekly number was above last year's (for the same week) of 23.9 mb while the marketing year total is running 8% behind last year's pace. Overall, soybean export inspections could be viewed as neutral, Newsom said.
Wheat weekly export inspections were 13.7 mb (week ending Thursday, February 25) putting total inspections for the marketing year at 543.6 mb. The weekly number is below last year's 17.7 mb (for the same week) while total inspections are running 13% behind last year at this time. Overall, wheat export inspections could be viewed as bearish, Newsom said.
Darin Newsom can be reached at darin.newsom@dtn.com
Follow Darin Newsom on Twitter @DarinNewsom
(BAS)
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